Cytokinetics Inc’s (CYTK): Have You Analyzed Stock’s Trends & Performance

In the last trading session, 1.61 million shares of the Cytokinetics Inc (NASDAQ:CYTK) were traded, and its beta was 0.68. Most recently the company’s share price was $70.11, and it changed around -$1.3 or -1.82% from the last close, which brings the market valuation of the company to $7.22B. CYTK currently trades at a discount to its 52-week high of $110.25, offering almost -57.25% off that amount. The share price’s 52-week low was $25.98, which indicates that the current value has risen by an impressive 62.94% since then. We note from Cytokinetics Inc’s average daily trading volume that its 10-day average is 2.03 million shares, with the 3-month average coming to 3.64 million.

Cytokinetics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.44. If we narrow it down even further, the data shows that 0 out of 19 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 3 recommended CYTK as a Hold, whereas 12 deemed it a Buy, and 0 rated it as Underweight. Cytokinetics Inc is expected to report earnings per share of -$1.14 for the current quarter.

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Cytokinetics Inc (NASDAQ:CYTK) trade information

Instantly CYTK has showed a red trend with a performance of -1.82% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -16.03% year-to-date, but still up 6.18% over the last five days. On the other hand, Cytokinetics Inc (NASDAQ:CYTK) is -4.08% down in the 30-day period. We can see from the shorts that 14.8 million shares have been sold at a short interest cover period of 4.94 day(s).

The consensus price target as assigned by Wall Street analysts is $60.71, which translates to bulls needing to decrease their stock price by -15.48% from its current value. Analyst projections state that CYTK is forecast to be at a low of $45 and a high of $75.

Cytokinetics Inc (CYTK) estimates and forecasts

Cytokinetics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 134.32 percent over the past six months and at a 17.25% annual growth rate that is well above the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 17.40% in revenue this quarter, and will report an increase of 16.40% in the next quarter. The year-over-year growth rate is expected to be -14.90%, down from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $970k in revenue for the current quarter. 12 analysts expect Cytokinetics Inc to make $950k in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $4.61 million and $5.8 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -79.00%. Forecasts for the next quarter put sales growth at -83.60%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -22.79%. Cytokinetics Inc earnings are expected to increase by 18.14% in 2024, but the outlook is positive 15.00% per year for the next five years.

CYTK Dividends

Cytokinetics Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.

Cytokinetics Inc (NASDAQ:CYTK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.88% of Cytokinetics Inc shares, and 113.82% of them are in the hands of institutional investors. The stock currently has a share float of 114.83%. Cytokinetics Inc stock is held by 465 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 16.00% of the shares, which is about 15.36 million shares worth $501.11 million.

FMR, LLC, with 12.67% or 12.16 million shares worth $396.76 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Smallcap ETF and Vanguard Specialized-Health Care Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 6.48 million shares worth $190.95 million, making up 6.75% of all outstanding shares. On the other hand, Vanguard Specialized-Health Care Fund held roughly 3.33 million shares worth around $111.21 million, which represents about 3.47% of the total shares outstanding.